Tuesday, July 15, 2014

$SPY - The stock market reversed early gains today after Fed Head Janet Yellen indicated that some equities may be in a bubble. Hey but the economy is fine, the Fed will continue stimulus but still plans on ending it by October. Oh, and rates will remain low.

$MSFT - Microsoft to announce job cuts this week.

"Tax inversions" still in the headlines as US companies try to avoid the high 35% domestic tax rate for lower rates abroad. Why not lower the US corporate tax rate?

$INTC - Intel beat earnings today. That was good for about a 4% pop after hours.

$YHOO - Yahoo down around 2% after reporting earnings and lackluster ad revenues. Hmm. Are folks going to pile into this for Alibaba or is the best way to play Alibaba just to buy Alibaba?

Still long the market with a little cash. Not much. Market valuations measured by PE is right near historical averages. It would be good to see profits grow rather than PE multiples to continue to expand.

$SPY - The stock market reversed early gains today after Fed Head Janet Yellen indicated that some equities may be in a bubble. Hey but the economy is fine, the Fed will continue stimulus but still plans on ending it by October. Oh, and rates will remain low.

$MSFT - Microsoft to announce job cuts this week.

"Tax inversions" still in the headlines as US companies try to avoid the high 35% domestic tax rate for lower rates abroad. Why not lower the US corporate tax rate?

$INTC - Intel beat earnings today. That was good for about a 4% pop after hours.

$YHOO - Yahoo down around 2% after reporting earnings and lackluster ad revenues. Hmm. Are folks going to pile into this for Alibaba or is the best way to play Alibaba just to buy Alibaba?

Still long the market with a little cash. Not much. Market valuations measured by PE is right near historical averages. It would be good to see profits grow rather than PE multiples to continue to expand.